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20 - ORGANIZATIONS/PRIVATE/Stephens Inc..md
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@ -32,7 +32,7 @@ In 1977 Stephens Inc. held 4.9 percent of [[Financial General Bankshares]] of Wa
### Lippo and Washington
The family formed [[Stephens Finance Ltd.]] in [[Hong Kong]] with [[Mochtar Riady]] of the [[Lippo Group]] in 1978, and the two families shared control of [[Worthen Bank]] from 1983. [[James Riady]] had been an intern at the firm. In 1985 it underwrote the stock issue that rescued Worthen, and its officer [[Curt Bradbury]] took over the bank. In 1987 it arranged the refinancing of [[Harken Energy]], of which [[George W. Bush]] was a director, through [[Union Bank of Switzerland]]. A Senate committee recorded that [[John Huang]], while at the [[United States Department of Commerce|Commerce Department]] in 1994 and 1995 and receiving briefings from the [[Central Intelligence Agency|CIA]], used an office at Stephens Inc. in Washington. The firm gave 100,000 dollars to a dinner for President [[George H.W. Bush]] in May 1991, and family members and employees gave more than 83,000 dollars to [[Bill Clinton]] by the summer of 1992.[^2][^5][^6]
The family formed [[Stephens Finance Ltd.]] in [[Hong Kong]] with [[Mochtar Riady]] of the [[Lippo Group]] in 1978, and the two families shared control of [[Worthen Bank]] from 1983. [[James Riady]] had been an intern at the firm. In 1985 it underwrote the stock issue that rescued Worthen, and its officer [[Curt Bradbury]] took over the bank. In 1987 it arranged the refinancing of [[Harken Energy]], of which [[George W. Bush]] was a director, through [[Union Bank of Switzerland]]. A Senate committee recorded that [[John Huang]], while at the [[United States Department of Commerce|Commerce Department]] in 1994 and 1995 and receiving briefings from the [[Central Intelligence Agency|CIA]], kept the use, unknown to anyone at the department, of a spare office at the firm's Washington branch on the sixth floor of the [[Willard Building]], across the street, headed by [[Vernon Weaver]]. The firm gave 100,000 dollars to a dinner for President [[George H.W. Bush]] in May 1991, and family members and employees gave more than 83,000 dollars to [[Bill Clinton]] by the summer of 1992.[^2][^5][^6]
In May 2006 the businesses were divided. Warren Stephens kept the investment bank, and Witt Stephens's children formed the [[Stephens Group]]. Warren Stephens became ambassador to the [[United Kingdom]] in 2025.[^1]